HomeMy WebLinkAbout4144 S TIMBERLINE RD - CORRESPONDENCE - 4/8/2005S
RE: Our Letter of Credit No.: Whowood LOC 1845
April 8, 2005
BENEFICIARY:
City of Fort Collins
281 North College Ave.
Ft. Collins, Co. 80521
To Whom It May Concern:
APITAL
i
CORPORATION
We hereby establish our Irrevocable Letter of Credit in favor of
the City of Fort Collins, State of Colorado, a municipal
corporation, hereinafter designated "City", for the account of
Whowood Partnership, LLP, hereinafter designated "Owner", up to the
aggregate amount of $11,100.00, which amount is to be paid to the
City, in one or more drawings, upon written demand by the City when
all of the conditions set forth shall occur.
It is understood that the sole purpose of this Letter of Credit is
to secure the obligation of Owner for the installation of certain
Landscape and Irrigation improvements for the property known as
Building Envelope E, Tract A, SUNSTONE MIXED USE, according to the
Plat recorded at Reception No. 2002082922, City of Fort Collins,
County of Larimer, State of Colorado.
The conditions for payment made pursuant to this credit are as
follows: 1. Owner has not performed all or part of the above
stated obligation after demand by the City.
2. The issuer of this Letter be notified immediately
of default of Owner in performance of the above -
stated obligations. Address all drafts,
documentation, and correspondence regarding this
Letter of Credit to the attention of Unisyn Capital
Corporation Letter of Credit Department at the
address on this letterhead: mention specifically
our credit Whowood LOC #1845.
This Letter of Credit shall be null and void after $11,100.00 has
been disbursed by Issuer as stated herein or on September 30, 2005,
whichever occurs first. This Letter expires on September 30, 2005.
UNISYN CAPITAL CORPORATION - ISSUER
y Ronald E ailing, President
��-ibe required landscaping has been inspected and
approved. We here�fn.► e..,.,.e...j— _, • .
1204 West Ash Street, Suite A ♦ Windsor, Colorado 80550 AL(970) 686-7800 Fax 970) 686-7001